You need to make sure you have the right business travel insurance for where are you going, otherwise you will shoulder all costs incurred during accidents and emergencies. There are actually different policies for different business travellers. These include single-trip, annual, backpacker, worldwide and other specialty travel insurance policies. Here are some tips on finding the right business travel insurance.
1. When comparing business travel insurance online, do not just compare the prices also the benefits of the cover, exclusions and product features.
2. Have a period of cooling off which you are able to decide if the policy meets your business travelling needs. If it does not, you can cancel the policy for refund.
3. If you will have a business trip abroad on more than a single occasion, then it is practical to get an annual multi-trip business travel insurance policy than getting single travel insurance.
4. Multi-trips could also automatically cover those weekend business trips to other city. So when your business equipment was brought to the zoo and it gets eaten by a lion, it might still be insured! Check out insurance companies who offer business travel insurance if you travel for two nights or more.
5. Sometimes business travel agencies or tour operators will tell you that you if you avail of their business travel insurance you can also buy holiday packages from them, maybe as part of a promo. Take this only if the total cost will benefit your business. Because you might find that you are paying over the standard amount for the travel insurance, even if it is offered as ‘promo’. Margins on holidays are very tight nowadays and travel agencies make most profit from selling high cost ‘extras’ such as travel insurance.
6. Bring with you all the time the copy of your policy with the international helpline number for your business travel insurance company. Your wallet may not be a good place to keep this information, as it could get lost or stolen.
7. Look for a business travel insurance that has medical coverage if travelling abroad. However, it is always best that you are medically-insured and bring the policy with you. Be sure that you understand the medical coverage and if it covers ambulances.
8. Make sure that you get business travel insurance for your employees who need to travel abroad with their families.
9. Consider a travel insurance that covers car rental insurance.
10. Make sure to buy from an insurance company that specializes in business travel insurance.